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Bitcoin
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Affairs
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No. 071 · 5 Aug 2026
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MARKET SNAPSHOT
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BTC / USD
$64,309
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24H CHANGE
+0.3%
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ALL-TIME HIGH
$124,749
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FROM ATH
-48.4%
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AI news, curated by Anthropic and ex-Google engineers. TLDR AI is the free daily brief of the models, research, and tools that actually matter.
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Treasury keeps coupon sizes steady and prepares $125 billion August refunding package
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The U.S. Treasury said on August 5 it will sell $125 billion of 3-year, 10-year and 30-year securities, raising about $28.7 billion of new cash. Treasury also said it expects to keep nominal coupon and floating-rate note auction sizes unchanged for at least the next several quarters, a signal markets will parse for yield and liquidity implications.
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| Rates Macro |
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Treasury advisers warn unchanged coupon sizes imply a 2027 funding squeeze
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Minutes from the August 4 Treasury Borrowing Advisory Committee meeting, released August 5, said primary-dealer projections imply a roughly $1.45 trillion funding shortfall in fiscal 2027-28 if current coupon auction sizes stay in place. Dealers still expect the next increase in nominal coupon issuance to come sometime in 2027, keeping longer-term supply pressure squarely in focus for rates-sensitive assets including bitcoin.
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Hormuz reopening deal edges closer as Trump targets Wednesday announcement
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AP reported on August 5 that President Donald Trump said a deal to reopen the Strait of Hormuz could come as early as Wednesday, with Iran and Oman moving toward an agreement. Any credible reopening path would ease oil and inflation pressure, an important macro swing factor for rate expectations and risk assets including bitcoin.
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| Geopolitics Macro |
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Wall Street extends record run as oil steadies and yields hold
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AP reported on August 5 that U.S. stocks added to fresh records while oil held steady and the 10-year Treasury yield hovered near 4.64%. The combination of resilient equities, calmer energy prices and stable yields keeps the broader risk backdrop constructive even as bitcoin continues to trade more cautiously than traditional markets.
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≡
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COMMENTARY
VOICE FROM THE NETWORK
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AI news from people who build AI
TLDR AI is the free daily brief curated by Anthropic and ex-Google engineers. The stories, models, and research they'd send a colleague, summarized for 1.1M+ readers.
M2 Global Liquidity just hit a NEW ALL-TIME HIGH
Imagine when Bitcoin finally catches up https://t.co/6mlDCu1hx0
136 reposts 156 replies 1.1K likes
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The Coldcard hackers may have stolen more than $114 million in Bitcoin.
But here’s the question almost nobody is asking…
Can they ever cash it out?
This 5-minute breakdown explains why stealing Bitcoin may have been the easy part.
📺 Watch:
60 reposts 79 replies 588 likes
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Half of all Bitcoin went underwater four times in eleven years: 2015, 2018, 2022 and Now. The first three were the bottom.
What makes this one the exception? https://t.co/8jYFVKB4aP
19 reposts 23 replies 145 likes
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Sorry, Bulls.
Bitcoin’s last two bear-market bottoms formed between the FIB 0.382 and 0.5 levels.
If history repeats, $BTC could still fall toward $45,000–$50,000. https://t.co/8QVVVmE5kC
151 reposts 178 replies 1.1K likes
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Bitcoin is currently undervalued, IMO.
This metric has dropped back into a zone that has historically appeared when short-term speculation was low and the market was closer to accumulation than euphoria.
That does not mean the bottom is guaranteed.
But these are usually the moments when Bitcoin looks least interesting to the crowd and most interesting to patient investors.
19 reposts 32 replies 659 likes
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🇺🇸 WHAT SAYLOR JUST DID, SPELLED OUT:
He sold 1,638 Bitcoin at roughly $63,880. His own average cost is $75,419. That's a loss, taken on purpose.
Where the money went: buying back STRC the preferred shares Strategy sold to the public at $100, now trading below $90, paying 12% a year.
So he retires $100 of obligation for less than $90, funded by Bitcoin sold at a loss.
Strategy's own filing: it won't cut that dividend "until the shares trade consistently near their stated $100 value."
Either that's disciplined debt retirement at a discount, or the machine is eating itself.
My take: the "infinite bid" era is over. That's one less floor under this range.
But before you PANIC the last time Saylor sold into weakness, it was near the BOTTOM, not the top.
Forced sellers mark lows more often than tops.
September is the deadline. Recovery or acceleration. The weekly filings tell us which, and I read those.
15 reposts 27 replies 312 likes
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